May 11, 2012 |
The U-T San Diego newspaper is in talks to buy the daily Orange County Register. U-T Chief Executive John Lynch confirmed that executives at his newspaper, formerly known as the San Diego Union-Tribune, have "had discussions" with Irvine-based Freedom Communications, which owns the Register. But although several recent reports have suggested that a deal is nearing, Lynch stopped short of saying that. "Nothing is certain as we attempt to expand our holding in L.A. and O.C.," Lynch wrote in an e-mail.
June 16, 2011 |
Buyout negotiations between the parent of the Orange County Register and MediaNews Group Inc. have collapsed over a disagreement about the value of the company, according to a person familiar with the matter. The Denver company, which owns 29 California newspapers, is believed to have offered about $700 million to purchase Freedom Communications Inc. The negotiations had been viewed as a potential first step toward an expected wave of consolidation in the region's newspaper industry as companies look for new ways to reduce overhead costs.
March 12, 2011 |
The possible sale of the Orange County Register's parent company could mark the start of a cost-cutting wave of consolidation of rival newspapers within regional markets. It once was rare for newspapers to team up with nearby competitors, in part because of antitrust concerns. But after several years of aggressively slashing expenses, many publishers see such consolidation as the response to a slide in advertising revenue, which has continued this year despite a firming of the overall U.S. economy, experts say. Although the newspapers would retain their separate identities, acquirers could save millions of dollars by consolidating administrative operations.
March 11, 2011 |
The parent company of the Orange County Register has begun an auction seeking to sell all or part of the Irvine-based owner of 100 newspapers and eight TV stations. Freedom Communications Inc., which emerged from Chapter 11 bankruptcy protection last year, was expected to receive bids from a number of suitors before a Thursday deadline set by the company. A spokesman for Freedom declined to provide any information on bids received. Among firms considered likely to make bids for parts of Freedom were Tribune Co. ?
February 5, 2011 |
Not so many years ago, it wasn't very hard to understand ownership of Southern California's newspapers. The Chandlers had the Los Angeles Times, the Hoiles family controlled the Orange County Register, the Copleys reigned at the San Diego Union-Tribune and MediaNews Group, a chain run by William Dean Singleton, owned a passel of suburban dailies. Now those durable names have sold out or, in the case of Singleton in recent weeks, been pushed aside. The companies that bought the papers have fallen into deep financial distress.
June 30, 2010 |
Freedom Communications Inc., which owns the Orange County Register and numerous other publications and television stations, has named Mitchell Stern as its chief executive, the company said Tuesday. Stern, 54, is a board member of Freedom, based in Irvine, and previously held chief executive titles at DirecTV and the Fox Television Stations. On Thursday he'll take the reins of the privately held media company from Burl Osborne, who has run the firm as interim CEO for the last year, during which it filed for Chapter 11 protection, went through restructuring and emerged from bankruptcy, said Bob Emmers, a spokesman for Freedom.
June 6, 2010 |
The newspaper industry is starting to meet its new bosses — the hedge funds and banks that are moving in as rich family owners and starchy executives move out. Although the objectives of these new owners remain unclear, insiders say the transition period promises more upheaval at newspapers just as they begin to emerge from bankruptcy protection. Over the last year, bankrupt newspaper companies including Tribune Co., owner of the Los Angeles Times, KTLA-TV Channel 5 and other news organizations, have been overrun by a category of stealthy "distressed debt" hedge funds.
January 22, 2010 |
Freedom Communications Inc., owner of the Orange County Register along with 89 other daily and weekly publications and eight TV stations, received court approval for a disclosure statement supporting its plan to emerge from Chapter 11 bankruptcy protection Thursday. The approval of the Irvine-based company's statement in a Delaware U.S. Bankruptcy Court gives Freedom the clearance to solicit votes on its reorganization plan from its creditors, the company said in a statement. A hearing to grant final approval to the reorganization plan has been set for March 9, the statement said.
September 2, 2009 |
Freedom Communications Inc., publisher of the Orange County Register, filed for Chapter 11 bankruptcy protection today after the slide in the newspaper industry and the recession made it impossible for the company to repay $770 million in debt. The Irvine company said the Register and its other newspapers and magazines would continue publishing while it reorganizes its finances in Bankruptcy Court in Delaware. Freedom said that a majority of its lenders would support a pre-negotiated restructuring plan that would ease the company's debt load.